Cryptocurrency analyst Tone Vays expressed his expectation that despite the depreciation of Bitcoin from its all-time high of $ 69,000, the upward trend does not end and the leading cryptocurrency will continue to increase in value.
Analyst Commented on the Current Outlook in Bitcoin
In his new Youtube post, Vays said that the main trend direction is still up and Bitcoin is not entering the bear zone. Stating that Bitcoin will continue to increase in value, the analyst stated that he will accept that he has entered a bear market only if the price levels of $ 28,805 are broken.
Analyst Tone Vays said that El Salvador’s adoption of Bitcoin as a legal currency and the significant increase in the number of institutional-scale investors pointed to a bullish period.
Cryptocurrency Analyst’s Medium-Term Price Prospects in BTC
Stating that the current market conditions and ecosystem-based developments will draw an upward path to the crypto money market, Vays stated that the bullish structure in the wide time frame continues and that a new ATH can be recorded in the medium term for the leading cryptocurrency Bitcoin. The analyst underlined that the price levels of $ 28,805 are critical in order to maintain the upward trend, and said that with the recovery of the market, the price expectation of $ 100,000 will be on the agenda again.
The information contained in this article does not constitute investment advice. Investors should know that cryptocurrencies carry risks due to their high volatility and should perform their transactions in line with their own research.